Earnings per share

3 Months Ended

Feb. 28, 2021

We compute basic earnings per share using the weighted average number of common shares outstanding. We compute diluted earnings per share using the weighted average number of common shares outstanding plus the effect of outstanding dilutive stock options, restricted stock units and deferred stock units, using the treasury stock method. The following table sets forth the calculation of basic and diluted earnings per share on an interim basis (in thousands, except per share data):


	Three Months Ended
	February 28, 2021		February 29, 2020
Net income	$	18,961	$	21,116
Weighted average shares outstanding	44,108		44,897
Dilutive impact from common stock equivalents	544		618
Diluted weighted average shares outstanding	44,652		45,515
Basic earnings per share	$	0.43	$	0.47
Diluted earnings per share	$	0.42	$	0.46

We excluded stock awards representing approximately 1,078,000 and 661,000 shares of common stock from the calculation of diluted earnings per share in the three months ended February 28, 2021 and February 29, 2020, respectively, as these awards were anti-dilutive.